Asia - Economic Data & News 01 (Jun 08 - Jun 16)

[winston]

Southeast Asia sets up fund in integration step by Shaun Tandon

Southeast Asian nations launched a nearly $500 million fund to build infrastructure, pooling resources in hopes of closing the gap between the dynamic region and major wealthy economies.

In a step toward an ambitious goal of regional economic integration by 2015, finance ministers of the ASEAN bloc on Saturday said the fund would offer loans to build roads, railways and other projects without direct foreign assistance.

The ASEAN Infrastructure Fund will start with $485.2 million and aims to finance six projects a year. By 2020, ASEAN hopes the fund will offer $4 billion in loans and that its total leverage will be worth more than $13 billion.

The fund will be based in Malaysia, the biggest contributor with a $150 million initial investment. Indonesia is the second-largest contributor with $120 million.

The Asian Development Bank, the Manila-based regional financial institution to which Japan and the United States are the largest contributors, will provide $150 million and eventually offer 70 percent of financing for the fund.

The fund "will help ensure that the 600 million people who call our region home, will have greater access to energy, clean water and sanitation and better forms of transportation," he said.

Source: AFP Global Edition

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[winston]

Who would dare say anything to a "bully" ?

Manila criticises ASEAN for lack of unity on row with China

MANILA, Nov 15 (Reuters) - The Philippines criticised South East Asian nations for letting individual political and economic considerations come in the way of a united stand on the South China Sea dispute with China, saying the political grouping needed to show it was relevant.

There have been concerns Beijing is using its influence on some members to prevent the 10-member Association of South East Asian Nations (ASEAN) facilitating multilateral negotiations over conflicting territorial claims, which China opposes.

Source: Reuters

[kennynah]

well.... it's about time, China learns to be a bully to unfriendlies

[winston]

well.... it's about time, China learns to be a bully to unfriendlies

Hmmm... Dont think the Taiwanese, the Norwegians, the Tibetans in exile etc. will agree with you.

[winston]

Clinton Warns Against Intimidation in South China Sea Dispute

MANILA (Reuters) - Secretary of State Hillary Clinton on Wednesday urged claimants to the South China Sea not to resort to intimidation to push their cause in the potentially oil-rich waters, an indirect reference to China ahead of a regional leaders' summit.

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[kennynah]

one day, the Chinese will make the americans kowtow to them

[winston]

one day, the Chinese will make the americans kowtow to them

Yes. And when that day comes, not sure I will feel proud being a Chinese. Maybe, I will feel quite shameful ...

[HengHeng]

No , personally until the X'mas sales numbers , it is still a upmarket.

my friend, you sit zong for so long...

good to know you are ALIVE...

happy new year

I had alot to do for the past year and was flying all over asia for stuff.

China's growth machine is dead for at least 2012 , similarly hong kong would be affected.

Malaysia under the current leadership is slowly becoming worse , they are leaning more toward malays and this is creating some resentment in the Chinese population which are the typically the ones pushing them forward.

Vietnam , a growing market but much has to depend on how the communist government is going to decide on doing biz , a great market to venture into if you are willing to take risk.

Thailand with all the floods and stuff , it really depends , i am in view that they might have good harvest for the year of 2012 and hopefully under the new president , we can see further economic growths and hopefully be free of the internal political strives

Myanmar , the current leader seems like a clever guy , he is starting to open up the economy and placing the major military leaders as directors in most of the main companies . This way everyone gets to earn money , it is effectively a win win economy at least for the next 5 years before people get a taste of capitalism and demands a 'fairer' share thats when problems might occur , meanwhile a good place to go.

Cambodia , should be the same as before , nothing much expected from this region as many things remain status quo

[kennynah]

HH : thanks for the concise perspective

pls post more

[HengHeng]

HH : thanks for the concise perspective

pls post more

Hopefully i can , might be flying all over the place in the upcoming months.